Core Viewpoint - The "1+6" basic rule system is established as the institutional foundation for the construction of a unified national electricity market in China, addressing the long-standing issues of "conflicting rules" and "inconsistent standards" in the market [2][3][4] Summary by Sections 1. Importance of the "1+6" Basic Rule System - The "1+6" basic rule system serves as the cornerstone and core framework for the unified national electricity market, addressing fundamental issues of market direction and construction [3] - It integrates and standardizes key operational rules across various segments such as medium to long-term trading, spot markets, auxiliary services, market registration, information disclosure, and measurement settlement, effectively resolving previous inconsistencies [3][4] - This system provides foundational regulatory guidance for the planning, design, construction, operation, and supervision of electricity markets at all levels, essential for creating a competitive and open national electricity market [3] 2. Structure of the "1+6" System - The "1" represents the fundamental operational rules, establishing the basic principles and overall framework for the electricity market, defining the responsibilities and boundaries of market participants, core transaction types, and risk prevention mechanisms [5][6] - The "6" consists of supporting rules that govern key market segments and core trading varieties, including medium to long-term trading rules, spot market rules, auxiliary service market rules, market registration rules, information disclosure rules, and measurement settlement rules [5][6] - Together, "1" and "6" form a coherent and structured whole, ensuring comprehensive coverage of all aspects of electricity trading and service provision [6] 3. Dynamic Coordination of Market Segments - The medium to long-term market, spot market, and auxiliary service market are the core pillars of the electricity market system, working together to optimize resource allocation across time and space [7] - The medium to long-term market locks in significant portions of electricity transactions, providing long-term price signals and stability, while the spot market reacts to real-time supply and demand conditions [7][8] - Auxiliary services act as a safety net, ensuring the stable and secure operation of the electricity system, supporting the efficient functioning of the spot market [7] 4. Time and Space Optimization - From a time perspective, medium to long-term contracts transition into the spot market for fine-tuning adjustments as execution approaches, with auxiliary services providing real-time support [8] - From a spatial perspective, spot market node prices reflect supply-demand dynamics and network congestion costs, guiding resource flow between regions [8]

Core Viewpoint - The "1+6" foundational rule system is established as the core framework for the construction of a unified national electricity market in China, addressing long-standing issues of inconsistent rules and standards, thereby facilitating the efficient flow of electricity resources nationwide [1][2][3]. Summary by Relevant Sections 1. Importance of the "1+6" Rule System - The "1+6" foundational rule system serves as the institutional cornerstone and core structure for the national unified electricity market, addressing fundamental questions about market direction and construction [2]. - It integrates and standardizes key operational rules across various segments such as long-term trading, spot markets, auxiliary services, market registration, information disclosure, and measurement settlement, effectively resolving previous issues of rule disconnection and inconsistent standards [2][3]. 2. Structure of the "1+6" System - The system consists of "1" (the Basic Rules for Electricity Market Operation) and "6" supporting rules, where "1" establishes the fundamental principles and overall framework for market operation, defining the responsibilities and boundaries of market participants [3][4]. - The "6" rules provide detailed regulations for critical market segments, including long-term trading, spot market transactions, auxiliary services, market registration, information disclosure, and measurement settlement, ensuring comprehensive coverage of all trading aspects [4]. 3. Dynamic Interaction of Market Components - The long-term market acts as a stabilizing force, locking in significant portions of electricity transactions through various contract durations, thus providing long-term price signals and stability [5][6]. - The spot market functions as a real-time indicator, reflecting immediate supply and demand conditions, guiding resources to where they are most needed [6][7]. - Auxiliary services serve as a safety net, ensuring the stable and secure operation of the electricity system through market-driven procurement of necessary adjustment services [6][7]. 4. Time and Space Optimization - The dynamic connection between long-term contracts, spot markets, and auxiliary services enables efficient resource allocation across time and space, with long-term contracts transitioning into more precise short-term adjustments as execution approaches [7]. - The spot market's node prices provide locational signals that indicate supply-demand imbalances and network congestion costs, guiding resource movement across regions [7].

Core Viewpoint - The establishment of the "1+6" foundational rule system is a significant milestone in the reform of the electricity market, providing a unified institutional framework for the national electricity market, facilitating the flow of electricity resources from local circulation to national circulation [2][5]. Group 1: Importance of Unified Market Rules - The unified foundational rule system is essential for the construction of a national unified electricity market, as it aligns with the central government's directive to strengthen market foundational rules [3]. - A unified rule system is necessary for the optimal allocation of electricity resources across the country, ensuring that electricity transactions adhere to consistent standards [4]. Group 2: Achievements of the "1+6" Rule System - The "1+6" foundational rule system transitions from a fragmented set of rules to a comprehensive and systematic framework, establishing a clear hierarchy and interface for market operations [5]. - The system promotes a unified registration process for market participants, allowing for a "one-stop" registration model that enhances efficiency and reduces fragmentation [5][6]. - It facilitates the transition of electricity resources from local circulation to national flow by standardizing trading mechanisms across different markets [6]. - The system enhances transparency in market information by standardizing disclosure practices, making it easier for market participants to access relevant data [7]. Group 3: Innovative Aspects of the "1+6" System - The most innovative aspect of the "1+6" system is its deep integration with China's multi-layered electricity market structure, ensuring that rules are both unified and adaptable to local conditions [8]. - The foundational rules serve as a guiding framework for the multi-layered market, clearly defining boundaries and functional roles for different market segments [9]. - The design of the foundational rule system supports a cohesive national electricity market while promoting the dynamism of various market categories [9].

Core Viewpoint - The establishment of the "1+6" foundational rule system is a significant milestone in the reform of the electricity market, providing a unified institutional framework for nationwide electricity resource circulation [1][4]. Group 1: Importance of Unified Market Rules - The unified foundational rule system is essential for the construction of a national unified electricity market, aligning with the central government's directives for a high-efficiency, fair, and open market [2][3]. - Market rules are fundamental for the orderly operation of the market, and a unified system is necessary for optimizing the allocation of electricity resources across the country [2][3]. Group 2: Achievements of the "1+6" Rule System - The "1+6" rule system has transitioned from a fragmented set of rules to a comprehensive framework, establishing a clear structure for market operations [4][5]. - The system promotes a unified approach to market access, allowing for streamlined registration processes and reducing regional discrepancies [4][5]. - It facilitates the transition of electricity resources from local circulation to national flow, enhancing efficiency in resource allocation across provinces [5][6]. Group 3: Innovations in the "1+6" System - The most innovative aspect of the "1+6" system is its deep integration with China's multi-layered electricity market structure, ensuring both uniformity and local adaptability [7][8]. - The foundational rules guide the overall direction, while the main rules define the functions of various market segments, creating a cohesive governance model for the electricity market [8].

Core Viewpoint - The establishment of a national unified rule system is expected to break down cross-regional operational barriers for electricity sales companies, stimulate product innovation, and build social trust in the industry [2]. Group 1: Cost and Compliance Reduction - The "1+6" foundational rule system significantly reduces the costs and compliance risks for electricity sales companies participating in market transactions across different regions, while enhancing market transparency and operational efficiency [3]. - Prior to the implementation of unified registration rules, companies faced significant administrative burdens and regional barriers, but now they can register in any trading center and share resources across provinces, effectively lowering market entry costs [3]. Group 2: Information Disclosure Improvement - The unified rules address previous issues related to inconsistent information disclosure standards, ensuring fair, timely access to critical decision-making information, which optimizes operational decisions and enhances service quality for electricity users [4]. Group 3: Product and Service Flexibility - The comprehensive rule system allows electricity sales companies to design more flexible and integrated electricity products and service solutions by standardizing wholesale transactions between generation and sales sides, thus focusing on user needs rather than regional rule complexities [5]. - This enables companies to innovate by integrating distributed solar power, user-side energy storage, and charging stations into competitive energy solutions, enhancing service depth and flexibility [5]. Group 4: Building Public Trust - Adhering to rules and maintaining integrity in operations is fundamental for electricity sales companies to survive and thrive, as well as to gain user trust [6]. - Companies can enhance public trust by strengthening compliance, improving professional capabilities in areas like electricity trading and risk management, and optimizing user experience through competitive service offerings [7]. - The establishment of credit evaluation systems for electricity sales companies and improved market information disclosure mechanisms contribute to building user confidence in selecting service providers, promoting fairness and transparency in the electricity market [7].

Core Viewpoint - The "1+6" foundational rule system marks a significant institutional breakthrough in the construction of a unified national electricity market in China, integrating the "dual carbon" goals, the establishment of a unified national market, and the construction of a new power system at the institutional level [3][4][5]. Summary by Sections Milestone Significance - The "1+6" foundational rule system represents a shift from fragmented exploration to standardized design in the national electricity market, establishing a comprehensive framework that includes core institutional frameworks such as market member responsibilities, transaction organization methods, pricing mechanisms, and risk prevention [4][5]. - It successfully connects the "dual carbon" goals, the unified national market, and the new power system, facilitating the participation of renewable energy in market transactions and promoting green and low-carbon energy transitions [5]. - The system establishes robust defenses for information disclosure, credit evaluation, risk warning, and intervention mechanisms, creating a fair and orderly market environment that enhances participant confidence [5]. Institutional Support for Reform - The "1" in the "1+6" system refers to the "Basic Rules for Electricity Market Operation," which outlines the core operational mechanisms of the unified national electricity market [6]. - The "6" includes three basic trading varieties: medium-to-long-term, spot, and ancillary services, which form the backbone of the electricity market trading system [7]. - The system clarifies trading varieties, methods, and pricing mechanisms, ensuring a fair and transparent trading environment [8]. Balancing Uniformity and Local Flexibility - The establishment of a unified national electricity market requires a set of universally applicable institutional frameworks while allowing for local adaptations based on regional resource endowments and electricity demand [9][10]. - Local practices and innovations have been integrated into the top-level design, creating a dynamic feedback loop that enhances both local and national market frameworks [9][10]. - Regions are permitted to make adaptive adjustments to the rule system based on their specific conditions, such as differentiated pricing policies and various trading methods [10][11].

Core Viewpoint - The release of the "Basic Rules for Metering and Settlement in the Electricity Market" marks a significant milestone in China's electricity market reform, establishing a foundational rule system for the unified national electricity market [1][4]. Group 1: Reasons for the New Rules - The need for unified standards arises from the inconsistencies in metering management, settlement cycles, and billing processes across different regions, which have become increasingly apparent as the national electricity market develops [2][3]. - The rules aim to standardize metering and settlement practices, enhance risk management, and protect the rights of various market participants [2][3]. Group 2: Key Provisions of the Rules - The rules require market participants to have independent metering capabilities, with metering devices installed at property boundary points and subject to regular calibration [2][3]. - They clarify the rights and obligations of various market members, including electricity trading institutions and grid companies, and standardize the entire settlement process, including billing and payment timelines [3][4]. - The rules establish a "daily clearing and monthly settlement" model for continuous operation areas of the spot market, ensuring a unified approach to settlement cycles [3]. Group 3: Implications for Market Participants - The introduction of unified registration rules simplifies the process for companies operating in multiple provinces, allowing for a single registration that is valid nationwide [4]. - Enhanced information disclosure rules provide transparency in pricing, supply and demand conditions, and transaction results, aiding companies in making informed decisions [5]. - The "1+6" rule system is designed to be flexible, allowing for continuous improvement based on local experiences and innovations in the electricity market [5]. Group 4: Future Developments - The National Energy Administration plans to further refine the "1+N" rule system as the new electricity system and market continue to evolve, aiming to break down market segmentation and enhance coordination among various market types [5].